People.com reports that THE X FACTOR's Fifth Harmony has just signed a recording deal with Simon Cowell's Syco Music and L.A. Reid's Epic Records. The group, who auditioned as five individuals, were put together on the singing competition and placed third for the season. Ally Brooke, 19, Camila Cabello, 15, Normani Hamilton, 16, Dinah Jane Hansen, 15, and Lauren Jauregui, 16 comprise the group.

"I knew from the girls' first performance at the judges' homes that we'd done the right thing," Cowell, tells PEOPLE of the group. "The chemistry between the Girls both on stage and off is fantastic, and they are incredibly talented."

Says group member Cabello, "The fact that we're being given the opportunity to make music that we want feels like a dream we never want to wake up from. I literally have to pinch myself."

Said fellow group member Brooke, "I am going to have a blast working with my girls. promise we are going to bring it."